No wonder Hyundai Motor Group has grown into a global top three in terms of global sales on the back of renewing best-ever sales and operating profit and rising brand value every year for the past five years since Chairman Chung Eui-sun took office on Oct. 14, 2020.
By making the most of these achievements, Chmn. Chung has reshaped its mainstay businesses into ones focusing on eco-friendly cars, such as EVs and changed the group from an automaker into a mobility solution provider by expanding its business areas, such as robot and software defined vehicle (SDV) and future aviation mobility.
Business analysts said on Oct. 13 Hyundai Motor Group ranked fifth in terms of sales among global automakers in 2019 and solidified its standing as a global top three following Toyota of Japan and Volkswagen of Germany by selling a combined 7.23 million units last year.
Despite a variety of inside and outside crises, the group has stayed a global top three in terms of sales under the leadership of Chmn. Chung.
Hyundai Motor and Kia Motors saw their combined sales jump from 163,892.4 billion won in 2019 to 282.68 trillion won. During the period, the two witnessed their combined operating profit surge from 5,615.2 billion won to 26,906.7 billion won, a 380 percent jump.
Hyundai Motor Group renewed best-ever sales and operating profit every year for three years since 2022.
Amid severe uncertain management conditions, Hyundai Motor and Kia Motors ranked second among global automakers on a half-year basis by seeing their combined operation profit stand at 13,008.6 billion won in the first half of this year.
Hyundai Motor Group saw its operating profit margin stand at 8.7 percent, surpassing more than twice its rival automakers, including Volkswagen whose figure was 4.2 percent.
The market survey firm SNE Research reported that Hyundai Motor and Kia Motors have grown into a key player in the global eco-friendly car market by ranking 7th in terms of global EV delivery in the first half of this year.
If China in which Volkswagen and Tesla have higher sales share is excluded, Hyundai Motor Group could rise to No. 3 following the two global automakers.
During the same period, Hyundai Motor and Kia Motors ranked 1st by selling 1,300 hydrogen cars globally, almost a two-fold jump over Toyota’s 700 units.
Hyundai Motor Group has become the sole automaker that has ranked in top levels among global automakers in terms of sales of each of eco-friendly cars, such as EVs, hydrogen EVs and hybrid cars.
Hyundai Motor Group’s Rising Brand Value and Creation of Synergetic Effects
The outstanding achievement for the past five years since Chmn. Chung’s inauguration is the group’s global brand competitiveness.
The global renowned brand consulting firm Interbrand picked up Hyundai Motor and Kia Motors as “fastest risers” last year.
Kia Motor has been evaluated to has pursed the most dynamic and aggressive brand innovation among the global automakers in the recent five years.
Hyundai Motor Group’s brand power has been analyzed to be reborn into a high-level one by successfully launching the EV brand IONIQ and the stable market settlement of the luxury brand Genesis.
Hyundai Motor saw Interbrand’s brand value rise to about 13 percent, to $23 billion, surpassing the global automaker industry’s average brand value growth rate of 6.8 percent. The figure represents an about 63 percent surge compared to five years ago.
Kia Motors has pursed the most dynamic and aggressive brand innovation among global automakers for the past five years. In 2021, the automaker unveiled its new corporate name and logo and carried out a full-fledged rebranding.
On the back of the innovation, the Interbrand said Kia Motor saw its brand value surge to $8.1 billion, the best-ever level.
A Korean automaker industry official said, “Hyundai Motor Group’s several achievements are owed to the fruits of the institutional innovation the group has been implementing under Chmn. Chung’s determination and leadership for the past five years.”
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